Larry has a comparative advantage over his classmates in writing term papers if he:
A. can write term papers faster than his classmates.
B. always earns an A on his term papers.
C. has a lower opportunity cost of writing term papers than his classmates.
D. has an absolute advantage in writing term papers.
Answer: C
You might also like to view...
Sammy has a drone that he values at $1,500. Dean values the same drone at $2,000. Sammy decides to sell the drone to Dean for $1,800. If the government imposes a $350 tax on the sale of drones,
A) Sammy and Dean would not be able to complete the transaction. B) Sammy and Dean would still be able to complete the transaction. C) the tax would cause a deadweight loss of $500. D) Both A and C are correct.
The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If there are no external benefits or external costs, the efficient number of DVDs to produce is ________ a week
A) 1 B) 3 C) 5 D) any number less than 3
GDP consistently measures the output of goods and services in all countries
a. True b. False Indicate whether the statement is true or false
Jerolyn signs up for a computer dating service. She finds that a lot of the men who send her emails are, in her opinion, "computer nerds". This is an example of:
a. moral hazard b. adverse selection c. both of the above d. neither of the above